One of the first things I ask people to do when they begin working with me is to document all of their expenses - what they spend money on, how much, how often, that sort of thing. What day is the car payment deducted, how much do you really spend on groceries, how much do you spend on the holidays?

Oof. That last one is a doozy, isn’t it? At least with the groceries, you can look back over the last few months and come up with a number, but then there’s things like the holidays that are a little more...vague.

On this blog, I talk a lot about practical things - saving up an emergency fund, budgeting like a boss, and specific tips and tools for getting ahead financially. That’s all helpful stuff and I’m happy to provide some guidance and resources to help you.

Do you know why I’m really here, though?

I want you to feel less sh*tty about your money.

I want you to feel more freedom and choice around your money.

I want you to feel less panic and more peace.

I want you to sleep better at night.

I want you to stop living beyond your dreams.

One of the best ways to achieve these things, that very few folks talk about, is a one-month money buffer. This is also referred to as living on last month’s income.

The good news is that you can do this - even if you don’t have tons left over each month. It will just take a little more time. So without further ado, let’s look at a few ways people have successfully used (myself included) to save up a big chunk of change.

In my last post, I (hopefully) convinced you that you need an emergency fund (click here to read that post if you missed it!). Especially if you’re in debt or have a variable income. So now you know what an emergency fund is, who needs one, and why they’re so important. If you were already on board, read on.

I bet you’ve still got some questions, though - namely how much you should be saving, where to put it, and how to know when to use it (and when to leave it alone!).

I don’t like motivating people with fear. I prefer to use the carrot rather than the stick when I work with folks. Get them moving towards things they’re excited about - freedom, being their own boss, peace of mind, sleeping well at night - that sort of thing.

But in order to get you to set up an emergency fund (now, not next week and certainly not “someday”), I need to put a little shake in your boots.

I know what you’re thinking: “UGH another one of those articles? Aren’t there enough? I’m embarrassed enough already!”

I’ll spare you the dreadful statistics about American savings rates and net worth and the scary charts about how much you should have saved by now and oh my god that’s just for retirement and you’re also supposed to have some sort of giant emergency fund too, right? And if you have kids...I won’t say the dreaded C word but you know what I’m talking about.